Dallas Mavericks owner Mark Cuban is reported to have sold the majority of his stake in the team for an impressive $3.5 billion. The deal allows him to retain control of basketball operations and keep shares in the team. This marks a significant profit, as Cuban initially bought the Mavericks for $285 million back in 2000.
This news comes as Forbes released their list of the most valuable NBA franchises of 2023. Topping the list were the Golden State Warriors, who are owned by Joe Lacob and Peter Guber, and last sold in 2010 for $450 million. The Warriors were closely followed by the New York Knicks, owned by Madison Square Garden Sports, and the Los Angeles Lakers, owned by Todd Boehly, Mark Walter, and the Jerry Buss Family Trusts. Other notable rankings included the Houston Rockets, Toronto Raptors, and Denver Nuggets.
The list highlights the increasing value of NBA teams over the years, with substantial profits being made for those who choose to sell their stakes. Notably, Mark Cuban’s sale of the Mavericks for $3.5 billion is the largest transaction to date. With the continued success and popularity of the NBA, it is likely that the value of these franchises will continue to grow in the years to come.
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